Private equity consortium looks to take Sorin private
A consortium comprised of Ares Life Sciences AG, Essex Woodlands Health Ventures UK, Intesa SanPaolo and Alpha Private Equity Funds has requested permission to carry out an exclusive due diligence process on healthcare business Sorin Group.
The process would allow the consortium to evaluate a possible public, voluntary tender offer for the entire share capital of the company, on the basis of a preliminary valuation for each share of Sorin Spa between €1.40-1.55.
The consortium is also in exclusive talks with existing investors Equinox Two ScA and Mittel SpA. to evaluate their possible co-investment alongside the consortium, as well as their acceptance of a possible public offer made on Sorin.
Sorin's board is expected to meet on 25 March to examine the request.
Sorin Group specialises in the treatment of cardiovascular diseases. The company develops, manufactures and markets medical technologies and innovative therapies for cardiac surgery and for the treatment of cardiac rhythm disorders.
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